It seems to me there are people here who are blindly following stuff they read in these forums.It seems there are "investors" here who don't know about PEN gold history....
People, if you are going to invest successfully you MUST! do YOUR OWN reasearch!
FYI.
At one stage I believe Raki Raki was looked upon as PEN's corner stone project. There were pictures on PEN website showing exposed gold almost bursting from the ground. Hot Copper PEN threads were full of Raki Raki.
Even though PEN at the time held interests in other new and exciting tenements including:
10% of asx listed company UraniumSA (USA.asx).
I believe PEN (from memory) also had tenements in Gawler Craton gold/copper/u(close to AGS).
Great Western Gold, WA. (sold 2006 Terrain TMX)
PEN owned 100% Pinnacles Nickel Project in WA, was involved (75%) with JV partners Zari prospecting gold Tanzania (sold 2007), and had secured Sth Africa tenements (Karoo) via Tasman, later ascquired by PEN .
Yes an exciting Company.
Nov 08 2006 I bought my first 200k PEN shares 4c. 76 million traded on the day.
Raki Raki was all the talk. THEN >>>
Dec 5th 2006 Bainimarama staged his military coup.
My understanding is the following Political unrest messed up imminent plans for Raki Raki project. I have visited Raki Raki and the exposed gold viens are clearly visible.
IMO Political stability will be a prerequisite to gold recovery yhere.
The ascuisition of PacMag 2007 was very fortuitous as PEN now had another more challenging/exciting/rewarding project to concentrate on..... go Lance >>
Hope this helps shed some light for some newbies..
Cheers
J
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